Key regions: India, United States, Japan, United Kingdom, China
The Bread market in the Bread & Cereal Products market in The Food market in G20 is witnessing minimal growth, impacted by factors such as changing consumer preferences, fluctuating prices of raw materials, and increasing competition from alternative products. Despite this, the market is expected to continue growing due to the convenience and variety offered by different types of bread, as well as the rising health consciousness among consumers.
Customer preferences: As consumers become more health-conscious, there has been a growing trend towards plant-based and gluten-free options in the Bread Market of the Bread & Cereal Products Market within The Food market. This is driven by the increasing demand for products that cater to dietary restrictions and preferences. Additionally, the rise in popularity of artisanal and organic breads highlights a shift towards more natural and sustainable food choices.
Trends in the market: In the G20 countries, the Bread Market of the Bread & Cereal Products Market within The Food market is experiencing a rise in demand for artisanal and specialty breads, catering to the growing trend of health-conscious consumers seeking healthier options. This trend is also being driven by the popularity of clean label and organic breads. Additionally, there is a shift towards online grocery shopping, leading to the emergence of e-commerce platforms specializing in bread products. These trends are expected to continue, presenting opportunities for industry players to tap into the growing demand for premium and healthier bread options.
Local special circumstances: In Japan, the Bread Market of the Bread & Cereal Products Market within The Food market is heavily influenced by cultural preferences and traditions. The use of rice flour in bread products caters to the local taste, and the popularity of traditional Japanese bakeries and their unique offerings sets it apart from other markets. The country's strict regulations on food labeling and ingredients also play a crucial role in shaping consumer choices. Additionally, the increasing health consciousness in Japan has led to a demand for healthier and organic bread options, creating a niche market for specialty bread products.
Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market is influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. In countries with strong economic growth and stable fiscal policies, the demand for bread and cereal products is expected to rise due to increased consumer spending power. On the other hand, countries with weak economic performance and high inflation rates may experience a decline in demand for bread and cereal products. Additionally, factors such as fluctuations in commodity prices, trade policies, and consumer preferences also impact the bread market in The Food market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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